Arbitrator - an individual with legal capacity who has consented to the duties of an arbitrator. The parties may, at their discretion, agree on the procedure for appointing an arbitrator to consider a specific dispute. An arbitration court shall be composed of three judges, unless otherwise agreed by the parties. Each party shall appoint one judge, and two judges so appointed shall appoint a third. The powers of the arbitrator may be terminated at his request or by agreement of the parties.
The arbitrator must meet the following requirements:
- has a law degree .
- has full legal capacity.
- has no criminal record.
- does not have misconduct incompatible with professional activities, if he previously had the status of a judge, lawyer, notary or held positions in law enforcement agencies.
- has practical experience in the financial sector of the economy for at least 5 years.
- Federal Law “On Arbitration Courts in the Russian Federation” No. 102-ФЗ dated 07.24.2002
See also
- Arbitration court
- “ Arbitrator ” (television series)